Yuan Hits New High Versus Dollar – BBC News

_41333312_chinatrade203getty.jpg From BBC News:

China’s yuan has recorded a new high against the dollar ahead of a visit to the country by a top US official.

The yuan stood at 7.5596 against the dollar, 7.28% higher than its value in July 2005 when the government ended its fixed exchange rate policy. Analysts said the had been lifted by China’s decision to raise interest rates last week. [Full Text]

[Image: US manufacturers claim the cheap yuan threatens American jobs, from Getty Images]

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